Alamo Group, Inc. $ALG Shares Sold by Advisors Asset Management Inc.

Key Points

• Advisors Asset Management Inc. reduced its stake in Alamo Group, Inc. by 63.3% during the first quarter, now holding 2,470 shares valued at $440,000.
• CEO Jeffery Allen Leonard sold 2,500 shares of Alamo Group at $222.19 each, resulting in a 6.11% decrease in his ownership.
• Alamo Group's quarterly earnings report showed an EPS of $2.57, falling short of analyst estimates, while revenue reached $419.07 million, exceeding expectations.

Advisors Asset Management Inc. cut its holdings in shares of Alamo Group, Inc. (NYSE:ALG - Free Report) by 63.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,470 shares of the industrial products company's stock after selling 4,267 shares during the quarter. Advisors Asset Management Inc.'s holdings in Alamo Group were worth $440,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently modified their holdings of the business. Nuveen LLC bought a new position in Alamo Group in the 1st quarter worth approximately $8,361,000. New York State Teachers Retirement System boosted its stake in Alamo Group by 4.1% in the first quarter. New York State Teachers Retirement System now owns 2,512 shares of the industrial products company's stock worth $448,000 after buying an additional 100 shares in the last quarter. Principal Financial Group Inc. grew its holdings in shares of Alamo Group by 3.1% during the 1st quarter. Principal Financial Group Inc. now owns 58,673 shares of the industrial products company's stock valued at $10,456,000 after purchasing an additional 1,737 shares during the last quarter. GAMMA Investing LLC boosted its stake in shares of Alamo Group by 110.6% during the first quarter. GAMMA Investing LLC now owns 238 shares of the industrial products company's stock valued at $42,000 after purchasing an additional 125 shares during the period. Finally, Allspring Global Investments Holdings LLC lifted its holdings in Alamo Group by 4.0% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 699,563 shares of the industrial products company's stock worth $125,732,000 after buying an additional 26,835 shares during the period. Hedge funds and other institutional investors own 92.36% of the company's stock.

Alamo Group Stock Performance

Shares of Alamo Group stock traded up $0.84 on Tuesday, reaching $205.26. 81,293 shares of the stock were exchanged, compared to its average volume of 69,190. The firm has a market capitalization of $2.49 billion, a price-to-earnings ratio of 20.90, a PEG ratio of 1.07 and a beta of 1.10. Alamo Group, Inc. has a twelve month low of $157.07 and a twelve month high of $233.29. The business has a 50 day moving average price of $217.51 and a two-hundred day moving average price of $200.22. The company has a quick ratio of 2.76, a current ratio of 4.56 and a debt-to-equity ratio of 0.18.

Alamo Group (NYSE:ALG - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The industrial products company reported $2.57 EPS for the quarter, missing the consensus estimate of $2.69 by ($0.12). Alamo Group had a return on equity of 11.45% and a net margin of 7.41%.The company had revenue of $419.07 million during the quarter, compared to analysts' expectations of $406.75 million. Analysts anticipate that Alamo Group, Inc. will post 9.53 earnings per share for the current fiscal year.

Alamo Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 29th. Shareholders of record on Wednesday, July 16th were given a $0.30 dividend. The ex-dividend date of this dividend was Wednesday, July 16th. This represents a $1.20 dividend on an annualized basis and a yield of 0.6%. Alamo Group's dividend payout ratio is presently 12.22%.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on ALG. Wall Street Zen raised Alamo Group from a "hold" rating to a "buy" rating in a research report on Friday, September 5th. Robert W. Baird upgraded shares of Alamo Group from a "neutral" rating to an "outperform" rating and increased their price objective for the stock from $209.00 to $260.00 in a research note on Monday, August 4th. Baird R W upgraded Alamo Group from a "hold" rating to a "strong-buy" rating in a research report on Monday, August 4th. Finally, DA Davidson restated a "neutral" rating and set a $225.00 target price on shares of Alamo Group in a research note on Tuesday, July 22nd. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus price target of $234.00.

Insider Buying and Selling at Alamo Group

In other news, CEO Jeffery Allen Leonard sold 2,500 shares of the stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $222.19, for a total transaction of $555,475.00. Following the sale, the chief executive officer owned 38,413 shares of the company's stock, valued at approximately $8,534,984.47. This represents a 6.11% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.18% of the company's stock.

Alamo Group Company Profile

Alamo Group Inc designs, manufactures, distributes, and services vegetation management and infrastructure maintenance equipment for governmental, industrial, and agricultural uses worldwide. It operates through two segments, Vegetation Management and Industrial Equipment. Its Vegetation Management Division segment offers hydraulically-powered and tractor - and off-road chassis mounted mowers, other cutters and replacement parts for heavy-duty and intensive uses and heavy duty, tractor- and truck-mounted mowing and vegetation maintenance equipment, and replacement parts.